KUALA LUMPUR (May 2): AllianceDBS Research said Kimlun Corp Bhd (Kimlun) had on April 30 crossed over RM1.46 hurdle to reach an intraday high of RM1.49 before closing at RM1.45 (up 5 sen or 3.57%).

In its evening edition April 30, the research house said Kimlun continued to trade above the 20-day (blue) and 50-day (red) moving average lines.

It said following the up close on April 30, the stock is likely to move higher with immediate hurdle remains at RM1.46. A crossover of RM1.46 again should see further price rise to the next overhead resistance zone, RM1.56 – RM1.62.

“The support is pegged at RM1.36. A fall below RM1.36 would put pressure on the stock down to the subsequent support zone, RM1.25 –RM1.30,” it said.

AllianceDBS Research said stock volume traded on April 30 was 890,000 shares compared to the 3-month average volume of 290,000 shares.